Public consultation launched for National Strategy for Financial Capability

The Ministry for Social Policy launched a six-week public consultation on the National Strategy for Financial Capability 2026-2031 to establish a long-term strategy enabling people to make informed financial decisions.

Those interested can click here to participate in the public consultation.

The ministry explained that financial capability goes beyond how money is spent, as it also empowers individuals to make informed and prudent choices, plan for the future, avoid unnecessary risks, and gain greater control over their lives.

The consultation was announced during a conferred addressed by Social Policy Minister Michael Falzon, who discussed the importance of prudence regarding sustainability, planning, and financial management.

“We want to establish a framework that helps our children and future generations understand the importance of long-term financial planning,” Falzon explained.

Pensions Strategy Group Chairperson Mark Musu expressed his satisfaction with the government’s decision to adopt the group’s recommendations and establish the debt advice service Flusi Malta.

Flusi Malta will provide professional support to individuals and families requiring guidance and assistance regarding debt, including outstanding bill payments.

Musu elaborated that the service was developed in cooperation with MCAST to provide specialised training to the professionals who will be at the forefront of the service.

These initiatives originated from ĠEMMA, a financial management platform within the ministry. They were also put together in collaboration with the Foundation for Social Welfare Services, MCAST, and the European Consumer Debt Network.